Common use of Expiration of Conversion Right Clause in Contracts

Expiration of Conversion Right. At 5:00 p.m. (Toronto time) on the Maturity Date, the Conversion Right shall cease and terminate with respect to any amount of the Principal Sum which has not been converted, and is otherwise outstanding at such time, and for which the conversion notice described in Section 4.1 was not duly and properly given before such time, except to the extent that the Holder has not received certificates representing the Common Shares issued, or has not received payment for any fractional Common Shares pursuant to Section 4.3(2), upon due exercise of the Conversion Right prior to 5:00 p.m. (Toronto time) on the Maturity Date, in which instances the Holder's rights hereunder shall continue until it has received that to which it is entitled hereunder.